BlackRock is leading a $50mn investment round into microinvesting app Acorns to help build out their investment options; BlackRock joins a growing list of traditional financial services firms partnering with apps focused on investments and financial health; the move can also help the asset manager to test the retail markets by seeing how certain products work through Acorns; Jackie Shroyer, a senior analyst for Corporate Insight tells Financial Planning, “BlackRock sees this as a golden opportunity to reach millennials, who within a few years will have started entering their prime earning years and emerged as an economic force.” Source.
